I had an example at work which I didn't have full intuition of. The example is as follows:
You have novated a forward starting cross-currency basis swap (let's say 10y10y EUR ccbs). The PV is agreed with counter party 'A' stepping in. However, there is a CSA implication... the remaining counter-party 'B' is on USD CSA whereas counter-party 'A' is in GBP CSA. Counter-parties A & B will now face each other on the trade.
Simply put, what are the steps to take in order to calculate the CSA impact, and who should pay/receive the CSA fee? I started to get lost once the third currency was factored in (GBP).
Appreciate any help on this, and thanks in advance!